Sify Technologies (NASDAQ:SIFY) Trading 4.9% Higher – Here’s Why

Sify Technologies Limited (NASDAQ:SIFY)’s share price traded up 4.9% on Thursday . The stock traded as high as $3.44 and last traded at $3.41. 54,525 shares traded hands during trading, a decline of 82% from the average session volume of 295,697 shares. The stock had previously closed at $3.25.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Sify Technologies in a report on Saturday, October 12th. They set a “hold” rating on the stock.

Sify Technologies Stock Performance

The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The firm’s fifty day moving average is $0.99 and its two-hundred day moving average is $0.90.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sify Technologies stock. XTX Topco Ltd raised its stake in Sify Technologies Limited (NASDAQ:SIFY) by 226.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,358 shares of the technology company’s stock after acquiring an additional 38,413 shares during the quarter. XTX Topco Ltd’s holdings in Sify Technologies were worth $25,000 as of its most recent filing with the Securities & Exchange Commission. 0.61% of the stock is owned by institutional investors.

Sify Technologies Company Profile

Sify Technologies Limited offers ICT solutions and services in India and internationally. It operates through Network Centric Services, Data Center Services, and Digital Services segments. The company offers internet, internet protocol, multi-protocol label switching, virtual private network, SDWAN, managed Wi-Fi, internet of things, wholesale and retail voice, dedicated internet access, and proactive monitoring and management of the network and devices.